DENVER — Denver-based CoreSite is seeking up to $9 million in tax revenue returns from the city to build a three-building data center and technology campus north of downtown near the National Western Complex.
The data center campus, at 5050 N. Race St., will span 600,000 square feet and create up to 75 new trades and technology-oriented jobs, according to a presentation by the Denver Economic Development & Opportunity (DEDO) office. The project also would create an average of 175 daily construction jobs, the presentation says.
“This project would bring up to $2.25 billion in investments to our community which could subsequently generate over $200 million in incremental local tax revenue by the project and its customers over a 20-year period,” according to the presentation. It would also “rehabilitate and activate” an abandoned industrial site, according to DEDO.
The 15-year agreement will “return 50% of sales and use tax generated by construction and sales activities directly associated with the site development and establishment of the data center campus, up to a maximum of $9 million, with the agreement ending once the agreed upon amount has been reached,” the presentation says.
> Read the full story at the Denver Business Journal.
